PRESS STATEMENT Billions in taxes for the financial sector with no prospect of decent pensions

“Anyone who believes that this country’s pension problems can be solved with private financial products is gravely mistaken. This reform is racing headlong down the wrong path of individual private retirement planning—and at the end of that path lies not a secure retirement, but a new labyrinth of offerings that, while subsidized, are financed solely by employees and offer no guaranteed benefits. This is not a pension system based on solidarity. What is happening here is an attempt to mobilize capital for risky investments and to instrumentalize pension policy for this purpose.

What is also frustrating is that the federal government refers at every opportunity to the upcoming reform proposals from the Pension Commission. At the same time, however, the federal government is already rushing one pension reform after another through the Bundestag. The federal government’s Pension Commission is thus in danger of becoming a farce.”

Further information and press photos of Hans-Jürgen Urban